Pleiades Technology Futures

Anticipating and Shaping the Future Through Ethnography, Innovation, Technology and Business
Future is in Your Hands
Humanity and Change
About Us
Insight to Action
Resources
Commentary
Reviews
Contact Us
Site Map
Anticipating and Shaping Accelerating Change

 

One example of a common dilemma resulting from accelerating change is the rapid commoditization of a company's core product or service.  How to anticipate and proactively prepare for the next product or service wave is a question that any company will face with time.  In the Internet driven world, the time from emergent new product or service to a commoditized one is getting ever shorter.

 

There are five steps that are helpful in preparing for this inevitable circumstance that are listed below. These steps are also quite general in application for decision making.


Insight to Action
 
Five Steps
 
Step 1 - Understand the Context of the Future as Related to Your Business
One good way to understand the forces setting the stage within your product or service must exist is to see what Futurists have to say about the trends affecting your business.  Some good sources include: the Institute for the Future and their Map of the Decade which highlights the interplay of forces shaping the future.
 
Step 2 - Understand the Theories that Provide Insight
For example, in the wireless business the change from almost sole dependence upon mobile voice as the primary revenue generator in the 1990's the advent of competitive and regulatory pressures along with improved capability to provide digital multimedia content require understanding of the power of disruption, the means for embracing innovation as a corporate culture and managing the core while encouraging the new - just to name a few.  Key insights come from academics like Clayton Christensen on disruption, Tom Kelly on innovation and Gary Hamel on business strategy.
 
Step 3 - Look for Exemplary Role Models of Success
Companies like IBM, P&G, and GE have embraced innovation practices that have accelerated their ability to capitalize on the group-forming capabilities of the Internet and harvest that talent both internally and externally to enhance their competitiveness.  Understanding what they have done and carrying it further is essential to remaining competitive.
 
Step 4 - Pick your Battles
Companies like Unilever and P&G have different strengths in product line and distribution that vary by location.  Unilever is particulary strong in Europe compared P&G.  Thus anticipating where competitive response will be weak and strong growth is possible.
 
Step 5 - Take Action
Action whether for sustaining the core or setting up the environment for trialling new emerging products is also a skill that can continually be refined.  Authors like Ram Charan and Larry Bossidy and others continue to coach reminding us of old lessons and providing new insights as the rules of the global economy change.